Hello all, I have been collecting radios quite a few years now and have well over a hundred and not to mention the thousands of tubes I have stashed away. I was wondering if any one had there collection insured or how one would go about insuring there colection against loss. The good thing is that I live in Maryland and do not have to deal with to many natural disasters. I am mainly concerned against fire and theft.
Thanks
David

:Hello all, I have been collecting radios quite a few years now and have well over a hundred and not to mention the thousands of tubes I have stashed away. I was wondering if any one had there collection insured or how one would go about insuring there colection against loss. The good thing is that I live in Maryland and do not have to deal with to many natural disasters. I am mainly concerned against fire and theft.
:Thanks
:David

When I bought my house I asked the insurance agent; I think I'm insured for about $5000 without doing anything at all (like listing everything I've acquired with prices paid). I take photos of anything of value; should have the negatives in a safety deposit box, but I don't. You need to ask specific questions concerning valuables like guns, antiques, appliances, books; you are probably covered, but not completely if you have a large collection. I think the additional insurance is called a rider, but I'm not sure. They will probably ask for an inventory. As for parts like tubes, you might have a very difficult time collecting for 'today's value'; they may want you to prove exactly how much you had. That would be impossible for me.

Well...you could take your Maryland-area/Low-Disaster logic a step further.

Think of what your actual threat is. Fire yes, sure maybe... but theft is kinda low...lol

Theives usually want stuff they can dump for fast drug money...

If you think of who actually wants that stuff... it's only us nice old guys who can't even run very fast.

And mostly...our drug needs are all aches and pains over the counter stuff.

And most of us expect documentation..or at least a schematic.... and we'd be calling for info about it later anyway...

Remember "boat anchors" are not easy to run away with anyway..
you're probably quite safe ...lol

Peter has it right.
We, the VRPS, held an auction for members family who passed last year, a three day event. On the second night the warehouse we were using was broken into and sacked. They had all night to get what they wanted. The thieves left every radio and TV, including a couple of Predictas, They took the food service equipment, some lighting and the generators, so they had vehicles that could handle our “ good stuff” .
Fire or water damage from wind driven rain or broken plumbing is you primary exposure.

Hi David, the questioned usually comes down to the value of your collection versus the premium for the coverage. Normally your homeowners insurance will cover all contents of the home. There are exceptioned for certain items (I believe "collectibles" may have a limit) and then there is your overall limit on personal property/contents (usually a percentage of the building insurance, like 1/2). Then too your contents coverage may be actual cash value = in the case of a used sofa what's it worth? You should have, as I do, a replacement cost rider on your policy for contents. You have a fire you replace it at present cost, at actual cash value you get the price of a used sofa (what are they going for at the thrift shop). That may come as an eye opener for you if you do not have a replacement rider on your policy. That aside, your collection would eat into the policy limit for contents so a rider is not necessarilly a bad idea. While the risk of theft may be small what about fire, water etc. loss which is covered. Again, the cost is a factor to be concidered. If you want to insure them specifically you have to inventory the, including tubes and value them. If seperately insured on a rider to your homeowners policy you don't eat up any of the contents limit for othere items should you have a loss. By the way, I don't sel insurance just happened to have knowledge in that area. PL

:Peter has it right.
:We, the VRPS, held an auction for members family who passed last year, a three day event. On the second night the warehouse we were using was broken into and sacked. They had all night to get what they wanted. The thieves left every radio and TV, including a couple of Predictas, They took the food service equipment, some lighting and the generators, so they had vehicles that could handle our “ good stuff” .
:Fire or water damage from wind driven rain or broken plumbing is you primary exposure.
:

After our church was torched by an arsenist I had a chance to help out an adjuster. Make sure you have a detailed list of all your valuables. Take pictures keep reciepts. Have documentation of model numbers, serial numbers, and have proof of value. They most likely will try to pay you only what you paid for the radio. The operative word is "Fair Market Value". Sorry that was three words. FMV may be only what you can pick it up at Goodwill for. You won't be reimbursed for the repairs you have made. Sorry to say the chiseled us on everything. I am going to stay anon on this posting and I won't name the company. I just expected honest dealings from this insurance company especially since they handle the insurance of many churches. I hope this isn't the typical treatment given by insurance companies but I suspect it is. It may help to have an appraised value by an expert.

UpInSmoke

Another suggestion: your insurance company has itemized inventory sheets that you end up filling out at the time of loss. You may want to ask for a copy so you can fill it out before a loss occures. It is much easier to do now than when all you have is a melted chasis and sick emotions. Each company has their own that they prefer. If you don't hand them the one they want they will reject it. Our claims adjuster gave us the wrong ones so we were required to tranfer and add more information. This delayed our claim. They never gave us the value of the contents even though we had "contents replacement cost". Remember the claims adjuster works for the insurance company not for you.

Smokin but alive

: After our church was torched by an arsenist I had a chance to help out an adjuster. Make sure you have a detailed list of all your valuables. Take pictures keep reciepts. Have documentation of model numbers, serial numbers, and have proof of value. They most likely will try to pay you only what you paid for the radio. The operative word is "Fair Market Value". Sorry that was three words. FMV may be only what you can pick it up at Goodwill for. You won't be reimbursed for the repairs you have made. Sorry to say the chiseled us on everything. I am going to stay anon on this posting and I won't name the company. I just expected honest dealings from this insurance company especially since they handle the insurance of many churches. I hope this isn't the typical treatment given by insurance companies but I suspect it is. It may help to have an appraised value by an expert.
:
:UpInSmoke

Sad but true we do work for our company. Here we call it Actual Cash Value, but it’s the same as Fair Market Value. Keep a list or inventory. Check with your agent to make sure you have sufficient contents coverage so you don’t erode your limit with your collection, the rest of your belongings will be damaged too. If the worst happens stick to your guns, or radios, if you get the feeling that you’re getting the short end of the stick contact your state's Department of Insurance.

: Sad but true we do work for our company. Here we call it Actual Cash Value, but it’s the same as Fair Market Value. Keep a list or inventory. Check with your agent to make sure you have sufficient contents coverage so you don’t erode your limit with your collection, the rest of your belongings will be damaged too. If the worst happens stick to your guns, or radios, if you get the feeling that you’re getting the short end of the stick contact your state's Department of Insurance.

Hi again, I should have added that even with replacement cost insurance coverage, you only get ACV (Actual Cash Value= Fair Market Value= At The value of used items, not new)up[ front, when you make the replacement the balance is paid. The additional premium cost of "replacement value" to contents is more than worth it. PL

:: Sad but true we do work for our company. Here we call it Actual Cash Value, but it’s the same as Fair Market Value. Keep a list or inventory. Check with your agent to make sure you have sufficient contents coverage so you don’t erode your limit with your collection, the rest of your belongings will be damaged too. If the worst happens stick to your guns, or radios, if you get the feeling that you’re getting the short end of the stick contact your state's Department of Insurance.